INDONESIA
Analyst
Cyrillus Harinowo
Former Director Central BankRecent Country Insights
The fiscal deficit is within the corridor
INDONESIA · Report · 07 Jul 2025
Indonesian Minister of Finance Sri Mulyani Indrawati reported to the Indonesian parliament on the country's fiscal performance, as well as the fiscal outlook for the year 2025. In the midst of skepticism about Indonesia's fiscal policy under the new president, Prabowo Subianto, she reported that ...
A mild slowdown in the first quarter of the year
INDONESIA · Report · 06 Jun 2025
The Indonesian economy posted its Q1 2025 GDP growth result at 4.87%, lower than the 5.03% annual growth in Q4 2024. Compared to the previous quarter, the Indonesian economy contracted by 0.98%, which followed the regular cycle. The fastest sectoral growth in Q1 2025 was in agriculture, forestry ...
After Trump's tariffs
INDONESIA · Report · 30 Apr 2025
The world was shaken by the tariffs imposed by US President Trump. While they may take time to be fully implemented (if they are fully implemented) the news has hit exporters around the world, with the export performance of each country under close review to see how big the impact of these tariff...
Ramadan 2025
INDONESIA · Report · 31 Mar 2025
This report was written on the last day of Ramadan, the fasting month for the Muslim people. In Indonesia, the last two days were holidays, not because of Ramadan but because of the Hindu holiday, observed especially on Bali Island but which has become a national holiday. At the same time, Cathol...
So far, so good
INDONESIA · Report · 27 Feb 2025
In the midst of a deteriorating perception of Indonesia's economy, the country posted an encouraging Q4 2024 GDP growth result, at 5.02% Y/Y. This was higher than the 4.95% annual growth for the previous quarter. On a Q/Q basis, the Indonesian economy expanded by 0.53%, which followed the regular...
2024 Budget well executed
INDONESIA · Report · 31 Jan 2025
The Indonesian Ministry of Finance reported the performance of Indonesian Government Budget for the year 2024. The budget had faced a huge challenge due to the volatility of commodity prices, the general election and the transition to the new presidency. However, the Ministry of Finance reported ...
The economy continued robust into year-end 2024
INDONESIA · Report · 30 Dec 2024 · 1 response
As the year 2024 comes to a close, the Indonesian economy has continued robust as reflected by a number of indicators. The most important indicator, Indonesia's GDP, reported annual growth of 5.03% for the first three quarters of 2024. Even though the rate of growth in the third quarter reached j...
Growth remained strong
INDONESIA · Report · 29 Nov 2024
The Indonesian economy posted another encouraging growth result in Q3 2024, albeit lower than the previous quarter, at 4.95%. This was slightly below the 5.05% annual growth in Q2 2024. The 3Q rate of growth led growth for first three quarters of 2024 to 5.03%. Compared to the previous quarter, t...
The start of the new government
INDONESIA · Report · 30 Oct 2024
On October 20, 2024, the changeover of the Indonesian presidency proceeded smoothly from President Joko Widodo to General Prabowo Subianto, who becomes the eighth President of Indonesia. The new president delivered a clear message of what will be the main objective of his presidency. The chang...